Inspire Advisors LLC Cuts Stock Holdings in Entergy Corporation $ETR

Inspire Advisors LLC trimmed its stake in Entergy Corporation (NYSE:ETR) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,907 shares of the utilities provider’s stock after selling 2,630 shares during the period. Inspire Advisors LLC’s holdings in Entergy were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETR. Empowered Funds LLC raised its position in shares of Entergy by 15.9% during the 2nd quarter. Empowered Funds LLC now owns 99,698 shares of the utilities provider’s stock valued at $8,287,000 after buying an additional 13,697 shares in the last quarter. Vanguard Group Inc. grew its position in Entergy by 3.0% in the second quarter. Vanguard Group Inc. now owns 56,459,668 shares of the utilities provider’s stock worth $4,692,928,000 after acquiring an additional 1,630,674 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in Entergy in the second quarter valued at $209,000. Rothschild Investment LLC raised its position in Entergy by 93.8% during the second quarter. Rothschild Investment LLC now owns 1,401 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 678 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Entergy by 8.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 147,108 shares of the utilities provider’s stock valued at $12,228,000 after purchasing an additional 11,255 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the sale, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider owned 10,122 shares in the company, valued at approximately $975,659.58. This represents a 33.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 10,179 shares of company stock worth $981,707. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETR. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Citigroup boosted their target price on Entergy from $91.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 price target (up from $96.00) on shares of Entergy in a research report on Tuesday, October 14th. KeyCorp reissued an “overweight” rating and set a $106.00 price target (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Finally, Mizuho upped their price objective on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.59.

Entergy Price Performance

Shares of Entergy stock opened at $94.54 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. Entergy Corporation has a one year low of $73.15 and a one year high of $98.58. The business’s 50 day simple moving average is $94.21 and its two-hundred day simple moving average is $88.27. The stock has a market capitalization of $42.22 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63.

Entergy (NYSE:ETR) last released its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The firm had revenue of $2.37 billion during the quarter. Analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s payout ratio is currently 63.21%.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.